out today re-affirms ST & LT buy. Says MCK is in a "period of exaggerated concern". Goes on to say that there will probably be a near term slow down in new clinical installations due to pressing Y2K work, but "HBOC has already prepared itself to manage this slowing trend" and will deliver 20% increases in software revenues. Folks, Y2K is just going to build future demand so that 2000 will be a break out year for new orders once people can think of something besides Y2K. Good investing longs.
Most likely suspect in the selling are institutions that formerly held HBOC. That's probably who's worried about MCK/HBOC (I came to MCK from HBOC myself and wouldn't be holding if not for MCK).
Sometimes downward spirals simply feed on themselves...and until there's a selling climax (perhaps like last week) that takes out the last weak links, and the valuations become so appealing, the stock can't respond no matter who's recommending it. Dollar wise this is one of my 3 largest holdings (w/CSCO and AMGN) so it's disappointing to see this gross over reaction. However, if MCK hits earnings of $3.00 in FY2000 and $3.73 in calendar 2000 with rising orders at HBOC, IMHO we'll see 100 plus. However until a base is set, it's gut check time for us good guys. Personally I'm long thru 2000. Good investing.